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Smith Distributors, Inc., supplies ice cream shops with various toppings for making sundaes. On November 17, 2021, a fire resulted in the loss of all

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Smith Distributors, Inc., supplies ice cream shops with various toppings for making sundaes. On November 17, 2021, a fire resulted in the loss of all of the toppings stored in one section of the warehouse. The company must provide its insurance company with an estimate of the amount of inventory lost. The following information is available from the company's accounting records: Inventory, January 1, 2021 Net purchases through Nov. 17 Net sales through Nov. 17 Historical gross profit ratio Fruit Toppings $ 22,080 160,000 210,000 20% Marshmallow Toppings $ 7,200 38, see 57,00 30% Chocolate Toppings $ 3,200 12,200 20,209 30% Required: 1. Calculate the estimated cost of each of the toppings lost in the fire. Estimated cost of lost inventory Toppings Fruit Marshmallow Chocolate

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